Zimbabwe earns more than US$1bn profit from tobacco

Tobacco plant kai4107Zimbabwe's tobacco industry has made profits of more than US$1.2bn this year. (Image source: kai4107)Zimbabwe earned more than US$1.2bn from its tobacco industry this year, tobacco industry and marketing board director Dr Andrew Matibiri has revealed

Dr Matibiri, speaking at the recent TIMB stand at the Harare Agricultural show, said he was happy with tobacco sales as the season draws to an end.

“At the moment, the Zimbabwe tobacco industry has generated US$1.2bn into our economy,” he said.

According to Matibiri an estimated US$610mn of funds was issued to Zimbabwean tobacco farmers, while the other half of the profits came from exports.

At the event he also explained to farmers and stakeholders that TIMB would take a zero tolerance approach to side marketing in the next selling season.

"Whenever insurance companies are seen to be causing discomfort to farmers and other players in the industry, we do not hesitate to stop their activities and operations," he added.

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